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JTS Mortgage Minute 004/23/19 - Tips to Increase Your Credit Score

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JTS Mortgage Minute 004/23/19 - Tips to Increase Your Credit Score

JTS Mortgage Minute 004/23/19 - Tips to Increase Your Credit Score

There will be a free buyers seminar April 25th at 5:30PM at Crye-Leike Properties Unlimited on Highway 45 in Columbus.


JTS Mortgage Minute 004/23/19 - Tips to Increase Your Credit Score


Freddie mac reveled in its latest primary mortgage market survey the demand for purchase mortgage applications grew higher as interest rates remained flat.


Overall, mortgage demand climbed to the highest level since the third quarter of 2016!


As mortgage rates fell for the fourth week in a row, rates for some loan types reached their lowest since january 2018.


Refinance borrowers with larger loan balances are also continuing to benefit from the low mortgage rates.


The benefits of the decline in mortgage rates that we've seen this year will continue to unfold over the next few months due to the lag from changes in mortgage rates to market sentiment and ultimately home sales.

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According to the home purchase sentiment index release by fannie mae, the net share of americans who say "it's a good time buy a home" increased 7 percentage points on a monthly measurement.


A brighter housing market outlook drove this month's increase, which is a welcome sign from consumers as we enter the spring and summer homebuying season.

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All of this is great news for the housing industry.


If you're interested in buying a home in the next few months, make sure you get your prequalification letter asap!


Our application process is easy with our text and online applications.


And if you would rather come in to fill out an application, give us a call!

We'll be happy to sit down with you!


If you are unsure of where to start, or have question about your credit profile, we hope you'll join us for the free buyers seminar on april 25th at 5:30pm at the crye-leike properties unlimited office on hwy 45 in columbus.


Realtors brandon shaw and jerome stephenson with crye-leike properties will be there along with credit specialist, corey locket with generational credit.


We will have lots of good information to share with you at this event so please plan to be there!

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We believe in making home ownership easy and we will work hard for you.


This process may seem scary and you may have lots of questions about what to expect and how to go about accomplishing this dream.


Jts &amp; co.

Is here to help yu every step of the way.


With that said, i want to share a few tips on how to lower your debt-to-income ratio and increase your credit scores.


Your debt-to-income ratio can make or break your application approval for a loan.


A high dti means your loan payments are eating up a large portion of your income.


If you see your paycheck disappear toward loans and credit card debt, take steps to reduce your debt and increase your income.


A dti of 50% is considered to be on the high side so we often look for a dti of 45% or lower for most loan programs. 23.

If your ratios are higher than that, there are a few things you could consider to bring it down.


Pay off loans ahead of schedule.


Target debt with the highest balance first.


Use a balance transfer to lower interest rates.


Refinance or consolidate your debt 28.

And maybe you are in a position to negotiate a higher salary.


Any of these could show results to your debt-to- income ratio immediately.


Your credit scores could take a little longer to reflect the changes, depending on how quickly the creditors report to the credit bureaus.

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If you want to purchase or refinance your home, give us a call.


We are local.


And experienced.

And we look forward to working with you!

Thanks for joining me today, be sure to tune in next week.


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